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cap one charges, calculating interest


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I want to claim the charges back on a cap one card,how do i calculate the interest,i'm afraid it confuses me:oops:

 

I have a letter ready to go,just need to put the amounts in.

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Hello again bsj

 

You could use the Advanced Spreadsheet found in the interest tutorial:

 

http://www.consumerforums.com/resources/templates-library/51-guidance-notes/233-interest-tutorial

 

How many charges do you have? If you have only a few charges, and you find the above confusing, then I might be able to help you work out the interest.

Hacksaw -v- Allied International Credit/Fairmile Partnership (incorrect Default) **WON** £150 out-of-court settlement

Hacksaw -v- Carphone Warehouse **WON** Default removed after LBA

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Hi hacksaw,i was never any good with numbers:confused:

 

I have £274.60 in charges on a credit card.

 

Thank you for your offer of help,i know to add 8% compound interest but i'm unsure of the interest charged that the OC would charge.

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You only add 8% compound interest when you file a claim at court.

 

Before your court claim, you can claim any interest you paid on your Capital One credit card because of the charges added, depending on the interest rate being charged by Capital One. If its a Classic Card, it's likely to be 34.9% APR, as I have one of those myself. Please check your agreements and/or statements to see the interest rate that applies to you.

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Hacksaw -v- Allied International Credit/Fairmile Partnership (incorrect Default) **WON** £150 out-of-court settlement

Hacksaw -v- Carphone Warehouse **WON** Default removed after LBA

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I'll check everything i have,it is a Classic card.

 

Thanks for pointing out the 8%,i did'nt realise it would only be added at court action stage.

 

I forgot to say i'm reading the link for the tutorial,i'm going to have a go the calculation.

Edited by bsj
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